Rutabaga Capital Management LLC MA cut its holdings in Manitex International, Inc. (NASDAQ:MNTX) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,355,516 shares of the industrial products company’s stock after selling 30,299 shares during the quarter. Manitex International comprises 1.8% of Rutabaga Capital Management LLC MA’s holdings, making the stock its 25th largest position. Rutabaga Capital Management LLC MA owned 8.19% of Manitex International worth $9,462,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in MNTX. Dimensional Fund Advisors LP raised its stake in Manitex International by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock valued at $911,000 after buying an additional 4,176 shares during the last quarter. Morgan Stanley raised its stake in Manitex International by 2.6% in the first quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock valued at $2,673,000 after buying an additional 9,980 shares during the last quarter. KCG Holdings Inc. purchased a new stake in Manitex International in the first quarter valued at about $114,000. Janney Montgomery Scott LLC purchased a new stake in Manitex International in the second quarter valued at about $105,000. Finally, Essex Investment Management Co. LLC raised its stake in Manitex International by 37.2% in the second quarter. Essex Investment Management Co. LLC now owns 237,669 shares of the industrial products company’s stock valued at $1,659,000 after buying an additional 64,445 shares during the last quarter. Institutional investors own 60.72% of the company’s stock.
A number of equities research analysts have commented on MNTX shares. Zacks Investment Research cut Manitex International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine raised Manitex International from a “sell” rating to a “hold” rating in a report on Monday, August 7th.
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Shares of Manitex International, Inc. (NASDAQ:MNTX) traded up 0.68% on Friday, hitting $8.85. The stock had a trading volume of 14,470 shares. Manitex International, Inc. has a 12-month low of $4.98 and a 12-month high of $9.89. The company’s market cap is $146.52 million. The stock has a 50 day moving average price of $9.01 and a 200-day moving average price of $7.64.
Manitex International (NASDAQ:MNTX) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $44.35 million. During the same period in the previous year, the business earned $0.02 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Manitex International, Inc. will post $0.19 earnings per share for the current year.
About Manitex International
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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